Zcash NU5 October 21, 2021
Official ECC Annoucement;
https://electriccoin.co/blog/halo-arc-for-zcash-proposed-for-release-later-this-year/
The next Zcash major Network Upgrade will occur on October 21, 2021.
Halo Arc will now launch on Oct. 1, 2021, in coordination with the activation of Zcash’s Network Upgrade 5 (NU5). NU5 will be the first mainnet activation of the Halo proving system, furthering the development of zero-knowledge-proof cryptography. (source)
Network Upgrade 5
Electric Coin Co. (ECC) today announced Halo Arc for Zcash, a product suite to launch the next generation of Zcash. It includes updates to Zcashd, the ECC Reference Wallet apps and the ECC wallet SDKs.
Halo Arc leverages two upcoming Zcash improvements: Network Upgrade 5 (NU5) and unified addresses. NU5 will move Zcash to the Halo proving system, representing the continual evolution of our zk-SNARK technology stack. Halo removes the need for the trusted setup and upgrades the protocol’s underlying cryptography.
Unified addresses, a complementary feature, introduce a future-proof address format that prioritizes shielded adoption. Later this week, we’ll release a blog post with a deeper explanation of unified addresses, how they work and what it means for supporting Zcash users to shield by default.
The planned release of Halo Arc is Oct. 1, 2021, to coincide with the activation of Network Upgrade 5 (NU5)*. NU5 will be the first mainnet activation of the Halo proving system, marking a significant achievement in the evolution of zero knowledge proof cryptography.
The Halo Arc product suite includes:
ZCASHD, NU5-COMPATIBLE CONSENSUS NODE: Zcashd is the consensus node for Zcash. Zcashd will support the upcoming network upgrade, which includes the Orchard Shielded Protocol (ZIP 224), non-malleable transaction IDs (ZIP 244), a new transaction version format (ZIP 225), and unified addresses (ZIP 316 1).
ECC REFERENCE WALLET (iOS and Android): ECC Reference Wallet is a beta reference implementation of a Zcash wallet for Android and iOS, available as open source.
NU5-COMPATIBLE WALLET SDKS: ECC maintains wallet SDKs for Android and iOS. These SDKs will support the upcoming network upgrade, including a new transaction format, the Orchard shielded pool and unified addresses.
AUTO-SHIELDING FEATURE: Auto-shielding lets users (more specifically their wallets) automatically move funds from a transparent address to the latest shielded ZEC pool. Auto-shielding, along with unified addresses, will facilitate increased user privacy and a better overall user experience. Through auto-shielding, wallets can offer their users funds that are shielded by default, regardless of the originating address.
AUTO-MIGRATION FEATURE: Auto-migration is a mechanism for wallets to seamlessly move funds to the most modern shielded pool supported by the wallet. This feature will also make it easier to deprecate older pools.
IMPROVED NOTE MANAGEMENT: Improved note management reduces the time users need to wait between sending transactions. This means that lightclients will be able to send one transaction immediately after another. (source)
Halo Arc represents a new ECC strategy, which bundles upgrades, products and features into regular releases. These bundles could include any or all of the products that ECC develops, such as Zcashd, Lightwalletd, wallet SDKs, and wallet source code.
As Zcash development decentralizes, the broader Zcash community will benefit from a greater diversity of products, such as the Zebrad consensus node from the Zcash Foundation and lightclient infrastructure funded by ZOMG. By emphasizing products as well as the underlying protocol, ECC can package and promote compatible software across the Zcash technology stack, from protocol to wallets
ZEC + RUNE = Privacy for THORChain + Liquidity for Zcash
This sets a precedent for other big players in the cryptocurrency space, Tezos, Ethereum & now Thorchain amongst many others have chosen opt-in privacy provided by Zcash's development team at the Electric Coin Company.
“We’ve been exploring ways to proactively surface opportunities for the Zcash community to express interest and contribute to new initiatives.”
“THORChain integration could be a game-changer for Zcash and users’ ability to store wealth privately. Direct access to shielded pools means that once users enter the blockchain ecosystem, they will no longer need to use a centralized operator to move wealth in and out of Zcash.” - Andre Serrano of ECC (source)
Check the Zcash Price: https://www.tradingview.com/chart/aPxA5vdt/
Zcash Network Upgrade 5 Resources
Official ECC Article: https://electriccoin.co/blog/halo-arc-for-zcash-proposed-for-release-later-this-year/
Coindesk Article by Benjamin Powers - https://www.coindesk.com/zcash-halo-arc-timeline-protocol-privacy-update
BitcoinExchangeGuide Article by James W - https://bitcoinexchangeguide.com/a-game-changer-electric-coin-company-proposes-a-thorchain-zcash-bridge/
Zcash Community Forum: https://forum.zcashcommunity.com/t/announcing-halo-arc/39053?u=phusionphil